Abbott Launches New Blood Test for Colon Cancer Detection

Abbott Laboratories (ABT) has announced the launch of a new blood test for colon cancer detection, aiming to boost screening rates among the estimated 50 million Americans who avoid traditional procedures. The announcement comes amid rising colon cancer incidence in adults.

The Product

The new test, whose brand name has not been disclosed, analyzes a blood sample for tumor DNA or associated proteins. It offers easier administration compared to colonoscopy, which requires bowel preparation and is invasive.

Pricing and Availability

Abbott has not yet announced pricing or availability. The test is expected to be available by prescription in the U.S. pending FDA approval.

Competition

The test faces competition from Exact Sciences' Cologuard stool test and traditional colonoscopy. While less accurate than colonoscopy, the blood test may encourage more people to get screened.

Potential Impact on the Company

The new test could boost Abbott's diagnostics revenue, especially if it gains rapid regulatory approval. However, initial sales may be limited due to the need for physician and patient education.